ASEC Mission: To make saving and retirement planning a priority for all Americans.
From the American Savings Education Council (ASEC):
- We realize this goal by educating the public about all aspects of financial security through our coalition of major public- and private-sector partners.
- For more about ASEC, download this brochure
December 2, 2008
Washington State Financial Literacy Work Group -- Report to the Governor
The Washington Financial Literacy Work Group was created in Governor-sponsored legislation to assess financial literacy in Washington State.
The Work Group was tasked with addressing the issues presented in Senate Bill 6272 Chapter 3, Laws of 2008, supported and signed by Governor Chris Gregoire on February 11, 2008.
The Work Group met 7 times - from April through October. Additionally, subcommittees formed and met on numerous occasions. The Work Group:
- Surveyed 749 state agencies, non profit organizations, private sector organizations, K-12 educators, and 2 year technical and community colleges.
- Supports nine recommendations to expand financial education in Washington.
- Identified state funding for financial education.
- Believes a central warehouse for financial education information is needed.
- Believes there is opportunity to expand partnerships in Washington
Final Report
Final Recommendations
Supporting Documents for Final Report
November 25, 2008
Money Week Houston Introduces The Money Smart Kid Winners
Sixth Grader & Twelfth Grader Named Money Week Houston 'Money Smart Kids'
HOUSTON—Sixth grader John Bailey, a home schooled student and Oscar Webb, a twelfth grader from Jessie H. Jones High School in Houston, Texas won an essay contest to become the 2008 Money Week Houston “Money Smart Kids” as part of Houston’s Money Week Houston.
Bailey and Webb wrote the winning 300-word essays on reasons why it's important to attend college and various ways to pay for it. Coordinated by Money Week Houston and its Money Smart partners, Money Week Houston is designed to educate consumers about money management and generate awareness of financial education programs on a wide range of topics such as budgeting, saving and using credit wisely. The week consists of hundreds of free classes and seminars on money management topics, all held throughout the Houston area.
The Money Smart Kid essay contest looks for kids who exhibit knowledge of how to use money wisely. Students grades 5- 12 were encouraged to answer this year's essay question, and the winners will be presented at a Press Conference in conjunction with The Honorable, Anna Escobedo Cabral, the United States Treasurer on Thursday, December 4th, 2008 at the University of Houston Central Campus in the Houston, Room. The two winners Bailey and Webb won a $5,000 scholarship each from Capital One Bank and the opportunity to spend a year as Money Week Houston’s junior financial literacy ambassadors. "This is a great opportunity for young people to test their knowledge of money management and pave the way to more financial awareness in the future," Denise Shanklin, Executive Director, The Money Smart Initiative and Money Week Houston.
Money Week Houston is a financial literacy and public awareness campaign scheduled for April 19‐25, 2009. Money Week Houston is coordinated by The Money Smart Initiative a non‐profit corporation in the state if Texas. The goal of The Money Smart Initiative is to reach Houstonians of all ages and demographics through the coordination of events like Money Week Houston. Money Week Houston is designed to help consumers better manage their personal finances. This is achieved through the collaboration and coordinated effort of hundreds of organizations across Houston and surrounding areas including businesses, financial institutions, schools, libraries, not‐for-profits, government agencies and the media.
Be the first to preview the new Money Week Houston “Be Money Smart” Newsletter (50,000 Distribution).
November 25, 2008
Feeling the Squeeze: NASAA Offers Sandwich Generation Relief
The North American Securities Administrators Association (NASAA) today announced a new investor education program to provide members of the Sandwich Generation–adults who are raising children while taking care of aging parents–with the information and tools they need to be financially prepared and protect their assets from fraud.
“Millions of adults are facing a generational sandwich that’s putting an economic squeeze on everyone involved,” said NASAA President and Colorado Securities Commissioner Fred Joseph. “Nearly half of those in the Sandwich Generation don’t have enough money to finance their own retirement but consider paying for their children’s college tuition a parental responsibility, all while juggling the rising costs of care for their parents.”
An estimated 16 million members of the Sandwich Generation face the financial challenge of balancing their own economic needs with those of their families. Joseph noted that many members of the Sandwich Generation don’t realize that the financial security of their children and parents can ultimately affect their own financial situation. “When you combine that fact with the reality that we are all living longer, you’re looking at millions of stressed families across North America,” he said. “We’re concerned that this stress may make the Sandwich Generation more susceptible to fraud, depleting the financial resources they need to maintain their families.”
NASAA’s “Sandwich Generation: Caught in the Middle” Outreach program addresses this concern. The program is designed to help adults sandwiched in the middle of competing financial responsibilities with information and guidance on practical steps they can take to shore up their financial future. The program urges adults to conduct a “Financial Check-up” in the following areas: Your Children, You and Your Parents. NASAA members also are available to conduct presentations to help the Sandwich Generation understand and meet the financial challenges they face.
For more information about NASAA’s “Sandwich Generation: Caught in the Middle” Outreach Program, or to schedule a NASAA member to speak to your organization, visit the Sandwich Generation Resource Center (http://www.nasaa.org/investor_education/9574.cfm).
The Sandwich Generation Outreach program was developed by NASAA’s Pre-Retiree Outreach Project Group. NASAA is the oldest international organization devoted to investor protection. Its membership consists of the securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, the provinces and territories of Canada, and Mexico.
November 14, 2008
Summary Report of Fall 2008 Partners Meeting
A summary of the presentations made at ASEC's October 22, 2008 Partners Meeting.
November 3, 2008
FTC Launches New Web Site to Teach Kids Key Consumer and Business Concepts
The Federal Trade Commission today launched a new Web site to introduce kids to key consumer and business concepts. Set in a shopping mall, http://www.ftc.gov/YouAreHere takes kids on an experiential journey that presents the FTC’s mission and its important role in American commerce. Kids under 12 are reported to spend billions of dollars on goods and services every year.
“FTC.gov/YouAreHere links the important work of the FTC to the lives of children,” said FTC Chairman William Kovacic. “It teaches kids how to be more savvy consumers by demonstrating the benefits of competition, how advertising can influence buying decisions, and the rules and regulations that many business people deal with. It’s a great tool for parents and teachers who are trying to help kids understand their role in the marketplace.”
The site features animated guides who help visitors navigate a virtual mall and interact with shopkeepers and other consumers. Kids can design and print advertisements for a shoe store, uncover suspicious claims in an ad, and guess the retail price of various candies based on their supply, demand, and production costs. One game that has players match the features of various cell phones with certain audiences illustrates the principles of target marketing; another allows visitors to compare sales pitches from three pizza joints as it explains competition. A short film playing at the cinema illustrates the history of the FTC.
For parents and teachers, the site offers fact sheets that cover advertising, marketing, and competition in more detail, along with ideas for related activities. “We hope that teachers will use the site in classroom activities that involve consumer economics, government, social studies, history, and language arts,” Chairman Kovacic said. “It takes a unique approach to both consumer tips and the role of business and government in daily life.”
October 28, 2008
ASEC Fall 2008 Chairman's Report
Chairman's Report on ASEC activities for June through October 2008.
October 27, 2008
ASEC's October 22, 2008 Partners Meeting
Agenda for October 22, 2008 Partners Meeting
Summary Report of the October 22, 2008 Partners Meeting
Below are power point presentations from the meeting.
Below are pdf's of handouts from the meeting.
ASEC Portal
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